The Zumper Austin Metro Report analyzed active listings in December across 12 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Texas state median rent was $921 last month.
The Zumper Austin Metro Report analyzed active listings in December across 12 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Texas state median rent was $921 last month.
The Most Expensive
–Austin, TX rent grew $40 to $1,190 and remained the most expensive in the metro.
–Leander, TX ranked as the second priciest with rent at $1,140.
–Cedar Park, TX continued to be third with one bedrooms priced at $1,100.
The Least Expensive
–San Marcos, TX stayed the most affordable city in the metro with rent at $880.
–Kyle, TX rent fell $10 to $960 and ranked as the second least expensive.
–Wells Branch, TX followed behind closely as third with rent at $960.
The Fastest Growing
–Brushy Creek, TX had both the largest year over year and monthly rental growth rates, up 7.9% since this time last year and climbing 4.8% since last month.
Full Data
The Zumper Austin Metro Report analyzed active listings that hit the market in December 2017. Listings are aggregated by city to calculate median asking rents.
In the market for a new place? Search all Austin apartments for rent on Zumper now.
Stay up to date with Zumper by following us on Facebook, Twitter, Instagram, & Pinterest.
The Zumper Austin Metro Report analyzed active listings that hit the market in December 2017. Listings are aggregated by city to calculate median asking rents.
In the market for a new place? Search all Austin apartments for rent on Zumper now.
Stay up to date with Zumper by following us on Facebook, Twitter, Instagram, & Pinterest.
This research report was originally published by Zumper.
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With the influx of people moving into Texas, primarily along the IH35 corridor from Waco to San Antonio, the demand for housing is at a premium. I worked in real estate for some time and have watched the trends over the years. The significant rise in rental rates, as well as skyrocketing price tags on homes throughout this region, has left us with a bit of a housing crisis for the lower and some middle class families. In Austin, there is a tremendous flipping market and revitalization agenda in areas like East Austin (east of the interstate running primarily from North Austin to just south of the downtown area), where there is a definite financial divide in the city. Many of the economically disadvantaged live in this region and struggle to find housing the can afford as it i. Now with the flipping and revitalization game in progress, affordable housing is becoming extinct. People who have owned homes for many years throughout the tri-county region (Williamson, Travis and Hays counties) along IH35 are finding the rise in property valuations and rising tax rates are now forcing them to make difficult decisions, because their homes are no longer affordable, but the catch is they can't just easily sell and find another home, because the housing market is so high they can't find another home. For those unable or not in the market to purchase a home, you can search to find a home to rent, but you have to be prepared to act quickly, as the houses are not staying on the market long and be prepared to pay a premium. In Kyle, it is not uncommon to find rental rates on a 1300 sq foot home in the range of $1500.00+ per month.
Normally, I would have believed we would have seen a market correction by now, as this housing boom has been in effect for a number of years, but at this time, I do not see a trend leading me to believe this correction is impending due to the rise in population flooding in. We do need to have more responsibility in the area of housing and insure there is affordable housing available for all socio-economic levels of our citizens. Our cities and counties need to be mindful of this and show the people they truly care about them and their needs.